ProShare Advisors LLC Takes Position in DocuSign, Inc. (NASDAQ:DOCU)

ProShare Advisors LLC bought a new position in shares of DocuSign, Inc. (NASDAQ:DOCU - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,849 shares of the company's stock, valued at approximately $886,000.

A number of other institutional investors have also recently added to or reduced their stakes in DOCU. FMR LLC grew its holdings in DocuSign by 178.2% during the 4th quarter. FMR LLC now owns 6,101,024 shares of the company's stock worth $548,726,000 after acquiring an additional 3,908,139 shares during the last quarter. Invesco Ltd. grew its holdings in DocuSign by 283.9% during the 4th quarter. Invesco Ltd. now owns 3,447,275 shares of the company's stock worth $310,048,000 after acquiring an additional 2,549,310 shares during the last quarter. Norges Bank bought a new stake in DocuSign during the 4th quarter worth approximately $223,196,000. Arrowstreet Capital Limited Partnership grew its holdings in DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company's stock worth $194,118,000 after acquiring an additional 1,442,639 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. grew its holdings in DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company's stock worth $427,642,000 after acquiring an additional 1,205,500 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

DocuSign Price Performance

Shares of DocuSign stock traded up $1.64 during trading on Tuesday, reaching $86.25. 1,782,864 shares of the company traded hands, compared to its average volume of 2,765,288. DocuSign, Inc. has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a 50 day moving average price of $81.74 and a 200-day moving average price of $85.85. The firm has a market capitalization of $17.47 billion, a PE ratio of 17.78, a P/E/G ratio of 6.94 and a beta of 1.21.

DocuSign (NASDAQ:DOCU - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the previous year, the company earned $0.76 EPS. DocuSign's quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 16,111 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the transaction, the chief financial officer now owns 93,960 shares in the company, valued at approximately $7,817,472. This represents a 14.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the transaction, the insider now owns 76,842 shares in the company, valued at approximately $6,392,485.98. The trade was a 16.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,851 shares of company stock worth $3,912,239. Insiders own 1.01% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on DOCU. Robert W. Baird set a $93.00 target price on shares of DocuSign in a report on Friday, March 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a research note on Thursday, April 17th. Morgan Stanley reduced their price objective on shares of DocuSign from $97.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Citigroup upped their price objective on shares of DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, Hsbc Global Res raised shares of DocuSign from a "moderate sell" rating to a "hold" rating in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, DocuSign has a consensus rating of "Hold" and an average target price of $92.46.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.